A Publication of the Memphis Area Association of REALTORS®
August 15, 2008
Volume 13, Number 32

In this Issue

• MAAR News
• Industry News
• Education & Events
• MLXchange & Technology
• Technology Classes

Mortgage Monitor

Freddie Mac Primary Mortgage Market Survey for August 14 and change from previous week:

MAARket Snapshot

Pending sales recorded, total active listings, and total new listings according to MAAR MLS for week ending August 10 and change from previous week.

Join MAAR online at:

In the News

MAAR NEWS

Education Scholarships Available
The MAAR Education Foundation is accepting applications for the Professional Designation Scholarship and the Newman Cross, CCIM Memorial Scholarship.  For an application and application criteria, visit www.maar.org/ce/scholarships.asp. Those awarded a Professional Designation Scholarship will receive $250 towards the designation course of their choice.  Those awarded a Newman Cross, CCIM Memorial Scholarship will receive full tuition to the CCIM course of their choice.  Take advantage of this great opportunity!

Shelby and DeSoto Handy Maps On Sale Now
The REALTOR® Store now has Shelby County Handy Maps on special: when you buy one at regular price, you get a second absolutely free! Partner up with a colleague and you can each get a great deal on these maps. In addition, 2007 DeSoto County Handy Maps are on clearance for just $5 each.

Be Cautious when Using One Day Codes
Members should remember that one day codes for lockbox access are to be used only when absolutely necessary. One day codes are not intended for use by clients who want to view property without an agent present. When using one day codes, we recommend listing agents have their clients approve their use by completing the Key Box Amendment and Supplement to Exclusive Listing Contract form.

Fund Shelby Schools Needs Your Input
Fund Shelby Schools, an organization interested in finding ways to adequately and equitably fund schools in Shelby County, is seeking input from the general public. Visit www.fundshelbyschools.org to add your views.

Habitat Fall Build Dates Have Been Announced!
Please plan to join us at the MAAR/Mortgage Bankers Association Habitat build site, located at 5157 Chantilly in Northaven from September 12 through October 25. We are offering two Thursday build dates for the first time this year in addition to the Saturday morning and afternoon shifts. Please consider giving your time and energy to help build a house for this deserving family! For more information, please contact Katie Shotts at (901) 818-2435 or katie.shotts@maar.org. To sign up, please complete the volunteer registration form.

Semi-Annual MLS Fees Past Due after Today
MLS fees for the period September 2008 through February 2009 not paid by today, August 15, will be considered past due. You can view your invoice and pay securely online. MLS users whose payments are made online or received in the MAAR office after 5 p.m. on September 2 will be assessed a $50 late fee and individual MLS services could be suspended. Suspended MLS service could take up to 2 business days to reactivate. Please allow 5 business days for mail delivery and processing of payments.

INDUSTRY NEWS

Is the Market Really That Bad? Aug. 14, 2008
New white paper goes beyond the gloomy headlines.

When Home Won't Sell, Consider Rent-to Own Aug. 14, 2008
Buyer should have proper insurance, finances to justify arrangement.

Mortgage Rates Put Pressure on Home Prices Aug. 13, 2008
Credit crunch makes homes 10 to 20% costlier.

What the Federal Housing Bill Really Means for Your Clients Aug. 12, 2008
Bill's provisions offer benefits to first-time buyers - here are some answers to some commonly asked questions.

Tight Lending Standards Keep Good Buyers Out Aug. 12, 2008
The California Association of Mortgage Brokers has called on lenders and investors to relax their underwriting rules because even buyers with good credit are unable to qualify for financing.

Best Options for Borrowers Facing Payment Problems Aug. 11, 2008
Web sites aim to guide owners on path to recovery.

A Proposal for 'MLS 5.0' Aug. 8, 2008
Industry veteran envisions marriage of MLS, Web 2.0.

Upcoming Education and Events

Talk Shoppe Presents "Building Leads through Social Networking"
William Bell will present this free seminar on Wednesday, August 20, from 9 to 10 a.m. at the Better Business Bureau, 3693 Tyndale (one block east of Forest Hill Irene off of Winchester). For more information, call sponsor Jo Garner at First Tennessee Home Loans at (901) 759-7808.

THDA: First-Time Home Buyer Program
Learn what the criteria is to be eligible for THDA and the steps to accessing the THDA program.  This free course is being offered Wednesday, August 20, from 1 to 5 p.m. for 4 hours CE credit with THDA Director of Business Development Debbie Reeves.  Register online.

Wine Down for Habitat
This year's Habitat Kick-off Party is on Thursday, August 21, at 5:30 p.m. in the MAAR Education Center. Tickets are on sale now for $25 each for the Wine Tasting at 4:30 p.m.  Or, get a team of four together and register for the Wine Race, beginning at 4:30 p.m.  We are also seeking donated items for our silent auction, all proceeds of which go toward the MAAR/Mortgage Bankers Association Habitat house.  If you need more information, would like to purchase a ticket to the Wine Tasting, register for the Wine Race, or contribute an auction item, please contact Katie Shotts at (901) 818-2435 or katie.shotts@maar.org.

Introduction to Commercial Real Estate, Investment and Development Analysis for Commercial REALTORS®
Learn how to analyze and value income properties; determine whether the expenses are realistic or not; hear all about cap rates and other financial measures used to value income properties; learn how to analyze development sites, determine land values and profit potential and factors that influence land values; discuss leases and leasing and long term real estate investment and lease versus buy analysis…plus pitfalls for the unwary…and much more. Also benefit by learning how to evaluate your own investment opportunities. Class is Friday, August 22, from 8:30 a.m. to noon at MAAR. Register online or by calling (901) 685-2100.

Applied Real Estate Investment, Development and Lease Analysis: What Numbers Really Count?
Topics for this course include: in-depth real estate investment and cash flow analysis, lease and lease versus buy analysis; how to analyze development sites, determine land values and profit potential, and factors that influence land values; site assembly and negotiating strategies; what numbers really count when analyzing real estate; and what are the implications for helping you list, evaluate and sell investment properties and development sites. This course is for commercial REALTORS or those who have attended the Intro seminar. Class is Friday, August 22, from 1 to 4 p.m. at MAAR. Register online or by calling (901) 685-2100.

National Kidney Foundation Golf Classic Invites MAAR Members to Participate
Ready to qualify for the National Championship at Pebble Beach or just want to have a fun day at Ridgeway Country Club? Round up three of your golf-playing friends and grab the golf clubs Monday, August 25, to play in the premier amateur golf event for charity: the National Kidney Foundation Golf Classic. The tournament starts at 12:30 p.m. and uses a four-person team scramble format. USGA Handicap Index requirements are followed for those who choose to vie for major prizes, including one absolutely unique prize: the top two winning teams are invited to play in the four-day National Championship at America's No. 1 golf resort's famed Pebble Beach Golf Links! Golfers of all skill levels - men and women, scratch golfers, and high handicappers - are encouraged come meet other golfers at lunch, enjoy a great day of golf on a spectacular course, and swap stories over dinner. With your support, the National Kidney Foundation brings hope and help to the 20 million Americans who suffer from chronic kidney disease through patient and community services, advocacy, public and professional education, research, and organ donation programs. Call (901) 683-6185 for more information and to register for the National Kidney Foundation Golf Classic.

TREC Core Course (07-08)
The 2007-2008 TREC Core Course covers communication issues with customers and clients, ethical and legal guidelines for dealing with cooperating agents and brokers, recent changes in Tennessee law, common agency issues, responsibilities and liabilities of principal brokers, and what communication is and is not required in commercial transactions. This course is mandatory for all licensees required to have 16 hours of CE credit to renew their license. The TREC Core Course is approved for 4 hours CE credit and is being held Wednesday, August 27, from 8:30 a.m. to 12:30 p.m. with instructor Gary Blume. The cost is $20.  Register online.

Tutor Training Session
Make a difference in the life of a child and the future of Memphis:  TUTOR!  Our Tutor Training session will be held on Wednesday, August 27, from 1:30 to 4 p.m. in the MAAR Education Center.  This session is for people who are curious about the tutoring program and just want to learn more, and for people who already know they want to tutor, or have tutored in the past, but need their annual training.  You will get all the information you need to become a tutor in either math or reading in the Memphis City Schools system for the 2008-2009 school year.  For more information, and to RSVP, contact Katie Shotts at (901) 818-2435 or katie.shotts@maar.org.

So You Think You Want to Sell Commercial Real Estate? Are you thinking about joining the commercial real estate arena? Would you like to understand how to work well with commercial practitioners? What's the difference between commercial and residential real estate and what do you need to know? Come prepared with your questions about commercial real estate and have them answered by Memphis' best in a lively discussion panel event featuring Jon Albright (Investec Realty Services), Jeff Moore (Crye-Leike Commercial), Timm Stubbs (Stubbs Commercial Real Estate) and Steve Woodyard (Woodyard Realty Corp.), with moderator MAAR Director Harold Blockman of Keller Williams. This event is being held Friday, August 28, from 2 to 4 p.m. at MAAR.  The cost is free.  Register online.

MLXchange & Technology

MLXchange Tip of the Week - Report Stationery
Have you begun making use of the new stationery available in MLXchange? MLXchange now offers 58 styles of stationery to add some visual interest when you print or e-mail Buyer Reports or CMAs for clients. To select and apply stationery, click the paint palette icon in the upper left of the Report Details window. 

MAARdata StartingPoint Change – Tuesday, August 19 Beginning Tuesday, August 19, the MAARdata StartingPoint will begin using REO/Bank Sales when calculating StartingPoints in areas where they are significantly affecting market values.  All users will be redirected to a new End User License Agreement to read and accept prior to using the new StartingPoint.  Please call MAAR Technology Services at (901) 818-2455 if you have any questions.

MLS Etiquette: Seller's Right to Privacy
Agents working with buyers are often asked by their clients if it's permissible to photograph the inside of a home during a showing.  Out of courtesy to the seller, showing agents should always check first with the agent listing a particular property.  If you can't reach the listing agent, assume the answer is no.  Photographing the interior of someone's home without first obtaining their permission is an invasion of privacy.

MLXchange FAQ Sessions Every Monday at 10 a.m.
Need some help with MLXchange? Why not attend a question and answer session to quickly address your MLXchange questions. Sessions are offered in the MAAR computer training lab every Monday from 10 to 11 a.m. No appointment necessary, but do come prepared to ask questions! This is not a formal MLXchange class. For questions, call (901) 818-2455 or e-mail TechSupport@MAAR.org.

Donate Your Old Computers
If you have an old, but still functioning, computer in your closet or garage, recycle it! Dave Burns of Crye-Leike, REALTORS® is helping facilitate a computer recycling program offered through Covenant United Methodist Church, 8350 Walnut Grove Road. Simply take your computer to the church and qualified professionals will "flush" the hard drive and recondition the computer for use by organizations that need, but cannot afford, computer equipment (including inner-city churches and after-school programs). You can drop your used computer by the church gymnasium between the hours of 9 a.m. and 5 p.m. Monday through Friday (inquire at the reception desk about computer recycling). If you have a large number of computers, call Dave at (901) 619-2122 to arrange for pickup. Also, if you know of an individual or group in need of a donated computer, please let Dave know. They currently have about 15 computers waiting to be placed and since the project began, they have placed more than 200 computers with local organizations. Thanks to all REALTORS® who have donated computers.

Upcoming Technology Classes